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<br />ACKNOWLEDGEMENT OF DEED OF TRUST
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<br />88-103642
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<br />BORROWERS READ THIS IIEFORE 8IGNING:
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<br />Borrowers (Trultora) understand thlltthe document that the Borrowers 8ra about to execute is a Deed alTrult and not B mortgage and that the power of sale provided
<br />tor In the Deed o' Trull provldealublllntlally different rlghlaand obllgltlonl orrowe e mortgege In Ihe~vent of e defeull or breach o' obllgltlon under Ihe
<br />Deed of Trust, Including. but not limited 10. the Lender's right to have th Bal Property sold by the alee w ul Bny udlclsl proceedIng or foreclolure: Borrowsll!
<br />represent and warrant that this acknowledgement was executed by th before the execution of the 0 1. ;'
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<br />
<br />PREFACE TO DEED OF TRUST
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<br />COIIPLETE IIdI portion ONLY II "'" .... property c1e1Cll_ consilio ollNDIVIDUALL Y OWNED AGRICULTURAL LAND.
<br />lIappllcallle, complete ONLY ONE al""', A, II. 0' C: '
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<br />o A, DISCLAIMER OF RIGHT TO DESIGNATE HoMESTEAO:
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<br />The Borrower(s) acknowledgelhat1hey are about to execute the following Deed Df Trust upon the real estate described therein. The Borrower(ll. and each ofthemit
<br />more than one, do hereby disclaim their right to designate a homestead pursuant thereto. No part of the homestead of either of the Borrower(s) is presently or will tn the
<br />future be situated upon said real estate. The Borrower(s) understand that if either establishes a homestead on sny part of said resl ~~tate during the time the Deed Of Tru.t
<br />remains unsatisfied anda lien upon said real estale, there shall be no right to makes designation of hDmestead In theavent of a foreclosure ortruale6'S ule wilt'll 'Hp.6Ct 10
<br />said Deed of Trusl
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<br />o e, WAIVER OF RIGHT TO DESIGNATE HOMESTEAD:
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<br />The Borrower{s) acknowledge that they are about io execute the following Deed DI Trust upon the real estate described therein. The80rrower(s), and each of them if
<br />more than one, do hereby waive their right to designate a homestead pursuant thereto. The Borrower(s) understand that they have the right to make a designation of
<br />homestead and lhatbyexecuting this waiver. they are waiving rights otherwise available for the purpose of affording them the opportunity to retain their homestead inttle
<br />evenl of I default upon Ihe Deed of Trust.
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<br />o C, DESIGNATION OF HO_II:
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<br />Pursuant to the Farm Homestead Protection Act (Section 76-t90t et seq. ReVised Statutes of the State of Nebraska). the Borrower(sl. do hereby designate the real
<br />property described in the "Designatil;m of Homestead" anached hereto and incorporated herein by this reference
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<br />Borrower
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<br />Borrower
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<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
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<br />THIS DEED OF TRUST, '5 mad. as ollh. 21L day 01 . Junem ____ 198B-., by and among 1he Trustm, p..t-..r 1:. ,Inn; t-h
<br />Christensen. Husband and.._~t.~e..____._, whose ma.hng addresSls 2119 N. Boward, Grand Island,
<br />Nebraska (herein "Borrowen the Trusle.. ~-!.llia~_~~}.ackburn, a Member of the HE State Bar
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<br />whosemlilingeddressis P.O. Box 22BOL-G.J;'.~_ndnJ:s;I.angLJ~,I;:___ _ _ Ihel1!,"-TruS!:.~J~n.
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<br />andthaBeneficiary, Fiv.. Points Bank ...,________.______~
<br />whose meilingeddl1!ssis P.O. Box l507, Gr_~nd Isl~~gL~~_6BBQ~_ (hel1!in"Lender-1
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<br />FOR VALUABLE CONSIDERATION. Including the Indebledness Identified herein and lrust hereIn created. the receipt of whiCh IS hereby acknowledged. Bono-wer
<br />hereby irrevocably grants. transfers. conveys and aSSigns tD Trustee. IN TRUST, WITH POWER OF SALE, for lhe benefit and security of Lender. under and subjec1 to the
<br />terms and conditions hereinafter set forth. the real property. descnbed as follows
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<br />Lot Eight (B) and the Northerly Fifteen (15) feet of Lot Ten (lO), Block
<br />Sixteen (16) University Place, an Addition to the City of Grand Island,
<br />Hall County, Nebraska
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<br />Together with all buildings. improvements. flx1ures. streets. alleys. passageways. easements. fights. priVileges and appurtenances located thereon or In anywISe
<br />pertaining thereto, and the rents. issues and profits. reversIons and remainders thereof: Including. but f101 limited to. heating and cooling eQuipment and such personal
<br />property that is attached tothe improvements'soasto constitute a fixlure; and~ogether with the homestead or manta I Interests. if any. which interests are hereby released
<br />and'waived:all of which. including Teplacements and additions there1o. IS hereby declared'to be a part of the real estate secured bV the lien of1his Deed o'Trust and all o'the
<br />foregoing being referred to herein as the "property"
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<br />This D~ of Trust shall-aBcure (al the pa~'JT1ent of the prinCIpal ,sum Bnd Interest eVidenced by Borrower"s note and/or credit areement dated
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<br />6128/88 ,having a mlturity dele of 6/2.8/91 ,on the 0"9.nal p"nclpal amount of $ 2, 52.41 and any and all
<br />.' ,modifications, lurten.lonl and renewals thereof or lhereto and any and all future advances and readvances hereunder pursuant to one or more promISSOry notes or credit
<br />. 'agreements (herein called "Note"); (b) 1he payment Dt other sums advanced by Lender to protecl the secun1y of the Note. {cl1he performanceall covenantssnd agreemenl
<br />,of Borrower aet forth,hereln;,and (dl all indebtedness and Dbligations 01 Borrower to Lender whether direct. indIrect. absolule or contingent and whether arising by note.
<br />'gulranty, overdraft or otherwise.
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<br />Borrower,1oiprotecUhe'securlty of this Deed of Trust, oovenants and agrees with Lender as follow~:
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<br />1. PaJ-tal~mHllnternL'Borrower shall promptly pay when due1he principal of and interest on. and any fees or charges prOVided in.lhe Note or In thiS
<br />Deed 01 Trust,
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<br />2. TIIIa, Borrower il1he owner of the Property, naB the right and authority to convey the Property. and warrants lhal the lien created hereby is a first and pnor lien on
<br />the Property, except.. mlV otherwise be Bet for1h herein. and the execution and delivery 01 this Deed of Trusl does not violate any contract or other obligation to which
<br />Borrower ,il subject.
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<br />3. T.....~. To pay when due all tBKell, special B.aessmenta and all other charges agBlnst ~he Property end. upon written deml!lnd by Lender. 10 pay 10
<br />Lender su~h amount as ni;y be :Iufflcient 10 enable the Lenaer to ,ply luch 1lxes, 88sessments or other charges as th2Y become due
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<br />4. .......... To k8lllpthePropert~ Insured against dBmage by fire. hazards included within the term "extended coverage". and such othnr hazards as Lender may
<br />require,ln amounts and with companies acceptableto,Lender. snd with lOBI plyable tDthe Lender. In case ot IOS5 under such policies. the Lender IS authonzed to adlust
<br />collect and compromiu. a" claims thereunder and shall havBlheapUon of applying all or part of the insurance proceeds (I) 10 Bny indeb1edness secured hereby nnd In such
<br />order u'Lender-may'determine, (iI} 10 the Borrowsr to be used 10r the repair or restoration of the Property or (Iii) 10r any other purpose or object sallslaclory to Lende!
<br />without ,affecting 1he'Uen of thil Deed olT'rust for the full amount secured hereb'l be'ore such payment ever look place Any applicatIon 01 proceeds 10 Indebledness shall
<br />n01IXhmd.or 'pos1pone ,the due date of any payments under 1he Note. or cure any delaull thereunder or hereunder
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<br />S. 'MaInIMlal1ce Rep8JrI. ,a;t' CompUance with La.., Borrower shall keep the Property in good condition and reparr. shall promptly repSlt or replace sn}'
<br />improvement which may 'be damaged or destroyed; sha" not commit or perml1 an,! wute or deterioratIon 011he Properry_ shall not remove. demolish or substantlBlly aller
<br />any 01 the improvements on the Property: shall not commit. suffer or permit anY,IC1 tobe done In or upon the Property In vlolallon at Bny law. ordinance. 01 regulation, Bnd
<br />Sh.II:p11y.nd.prDmptIYdjIChargeatBorr~wer'SCDI1.nde.l.penlEl.lllienl.encumbrancfllsndchsrges levied. Imposed or cssessed agolnst1he ProperlY or any partlhereoT
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